Baker Hughes (NASDAQ:BKR) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in Baker Hughes (NASDAQ:BKR) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,573 shares of the company’s stock after selling 535 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Baker Hughes were worth $1,322,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Empower Advisory Group LLC increased its holdings in shares of Baker Hughes by 2.5% in the third quarter. Empower Advisory Group LLC now owns 2,071,176 shares of the company’s stock valued at $74,873,000 after purchasing an additional 50,481 shares during the last quarter. Carrera Capital Advisors purchased a new stake in Baker Hughes in the 3rd quarter valued at $2,035,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Baker Hughes by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,935,988 shares of the company’s stock worth $106,136,000 after acquiring an additional 62,718 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Baker Hughes by 7.7% during the 3rd quarter. GSA Capital Partners LLP now owns 26,383 shares of the company’s stock worth $954,000 after acquiring an additional 1,887 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Baker Hughes by 42.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,998 shares of the company’s stock valued at $145,000 after purchasing an additional 1,190 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BKR. Evercore ISI increased their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Stock Down 0.6 %

BKR stock opened at $42.94 on Monday. The company’s 50 day moving average is $37.48 and its two-hundred day moving average is $35.24. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $44.49. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $42.49 billion, a P/E ratio of 19.26, a PEG ratio of 0.72 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. Research analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. Baker Hughes’s payout ratio is 37.67%.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.